RE: RE: RE: RE: Analyst Rating Link I agree that Juby is the jewel, but Whitney is necessary for two reasons:
1. It may (only) have a million ounces so far, but that's not chump change!
2. It represents both a life-line and a carrot for Goldcorp. As long as we keep adding gold there, right under Goldcorps nose, then we can string them along and keep them interested. This brings me to some additional thoughts:
The 2010 agreement says "A minimum joint work program totalling $8.33 million will be undertaken over a 5 year period. Temex has agreed to fund a total of $5 million in exploration expenditures prior to the end of the fifth anniversary of the Joint Venture Agreement." Temex has spent their portion, has anyone heard of Goldcorp's $3.33 million? This would definetely provide some stimulation by showing their interest in the continuation of exploration activities.
You also raised a good point that I've wondered about regarding why they've not been drilling deeper on Whitney. The same agreement says "Under the terms of the Joint Venture Agreement, Temex acquired an undivided 60% interest in the mining rights (from the surface to a depth of 1,000 feet below the surface) to those parts of certain patented properties commonly known as the Upper Hallnor Mine Property, other than for mining rights in and to certain parts of the Upper Hallnor Mine Property. The Company's acquisition of its 60% interest in the Upper Hallnor Mine Property, together with its existing 60% interest in the lower portion of the Hallnor Mine Property, consolidates this historic gold property...".
I read this "consolidation" as they own 60% in both upper and lower... did they previously own 60% of the lower? Do they only have 60% in the first 1000 feet?
Thanks
Kegs